In terms of pure acceleration absolutely yes, the CTS-V is faster. In terms of being able to apply that power around a track, it's less clear. If Heinricy or O'Connell had jumped into the M3 that day and done some laps giving the same amount of effort they did in the V, then we'd know better. It looks to me like they're pretty close.

The V is interesting because it's priced competitively with the M3, yet as a car it's meant to compete with the M5. It certainly kills the M5 in pretty much every metric.